Powell and the Future of Cryptocurrencies: What Does It Mean for Bitcoin?
Today, Federal Reserve Chairman Jerome Powell appeared before the US House of Representatives Financial Services Committee. During his speech, Powell noted that although inflation has decreased significantly over the past two years, it still remains above the 2% target. Therefore, he emphasized the need to maintain a restrictive monetary policy for the time being. 
In addition, Powell reaffirmed the Federal Reserve's independence from political pressures, ensuring that interest rate decisions are based on economic conditions and not on external comments. 
Regarding cryptocurrencies, Powell stated that as long as he is at the head of the Federal Reserve, a central bank digital currency (CBDC) will not be implemented in the United States. 
Impact on cryptocurrencies:
Powell's statements have generated reactions in the cryptocurrency market. $BTC Bitcoin, for example, experienced a 2.09% increase, standing at $97,902. This movement reflects investors' sensitivity to monetary policies and their search for alternative assets in contexts of economic uncertainty.
In short, the Federal Reserve's stance of maintaining a restrictive monetary policy and the decision not to move towards a CBDC under Powell's leadership could influence the perception and adoption of cryptocurrencies as financial alternatives.$BTC $ETH